Author: Herman S.J. Cesar
Publisher: Springer Science & Business Media
ISBN: 364245738X
Category : Mathematics
Languages : en
Pages : 234
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Book Description
This book deals with economic policy regarding the Greenhouse Effect using control and game models. First, a literature review is given of intertemporal optimisation models of environmental issues with special focus on the Greenhouse Effect. Next, the issue of sustainability is discussed for different specifications of the natural assimilation function. Furthermore, capital accumulation is considered both in abatement and in human capital. The international dimension is analysed next with focus on the difference between feedback and open-loop solutions, as well as on cooperative outcomes using trigger and renegotiation-proof strategies. Finally, second best forms of cooperation in the form of "issue linkage" and "technology transfers" are worked out.
Author: Jerzy Filar
Publisher: Springer Science & Business Media
ISBN: 1461208416
Category : Mathematics
Languages : en
Pages : 368
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Book Description
This book collects some recent works on the application of dynamic game and control theory to the analysis of environmental problems. This collec tion of papers is not the outcome of a conference or of a workshop. It is rather the result of a careful screening from among a number of contribu tions that we have solicited across the world. In particular, we have been able to attract the work of some of the most prominent scholars in the field of dynamic analyses of the environment. Engineers, mathematicians and economists provide their views and analytical tools to better interpret the interactions between economic and environmental phenomena, thus achiev ing, through this interdisciplinary effort, new and interesting results. The goal of the book is more normative than descriptive. All papers include careful modelling of the dynamics of the main variables involved in the game between nature and economic agents and among economic agents themselves, as well-described in Vrieze's introductory chapter. Fur thermore, all papers use this careful modelling framework to provide policy prescriptions to the public agencies authorized to regulate emission dy namics. Several diverse problems are addressed: from global issues, such as the greenhouse effect or deforestation, to international ones, such as the management of fisheries, to local ones, for example, the control of effluent discharges. Moreover, pollution problems are not the only concern of this book.
Author: Alan A. Powell
Publisher: Springer Science & Business Media
ISBN: 3662007711
Category : Business & Economics
Languages : en
Pages : 437
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Book Description
The main purpose of this monograph is to give a detailed account of a contemporary, state-of-the art, macroeconometric model that is regularly used for policy advising, and for forecasting in commerce and industry.
Author: Gerald A. Heuer
Publisher: Springer Science & Business Media
ISBN: 3642468195
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
The structure of a Silverman game can be explained very quickly: Each of two players independently selects a number out of a prede termined set, not necessarily the same one for both of them. The higher number wins unless it is at least k times as high as the other one; if this is the case the lower number wins. The game ends in a draw if both numbers are equal. k is a constant greater than 1. The simplicity of the rules stimulates the curiosity of the the orist. Admittedly, Silverman games do not seem to have a direct applied significance, but nevertheless much can be learnt from their study. This book succeeds to give an almost complete overview over the structure of optimal strategies and it reveals a surprising wealth of interesting detail. A field like game theory does not only need research on broad questions and fundamental issues, but also specialized work on re stricted topics. Even if not many readers are interested in the subject matter, those who are will appreciate this monograph.
Author: Alexandre Ziegler
Publisher: Springer Science & Business Media
ISBN: 3662215896
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
Modem option pricing theory was developed in the late sixties and early seventies by F. Black, R. C. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. However, already in the seminal paper by Black and Scholes, the applicability of the model was regarded as much broader. In the second part of their paper, the authors demonstrated that a levered firm's equity can be regarded as an option on the value of the firm, and thus can be priced by option valuation techniques. A year later, Merton showed how the default risk structure of corporate bonds can be determined by option pricing techniques. Option pricing models are now used to price virtually the full range of financial instruments and financial guarantees such as deposit insurance and collateral, and to quantify the associated risks. Over the years, option pricing has evolved from a set of specific models to a general analytical framework for analyzing the production process of financial contracts and their function in the financial intermediation process in a continuous time framework. However, virtually no attempt has been made in the literature to integrate game theory aspects, i. e. strategic financial decisions of the agents, into the continuous time framework. This is the unique contribution of the thesis of Dr. Alexandre Ziegler. Benefiting from the analytical tractability of continuous time models and the closed form valuation models for derivatives, Dr.
Author: Bor-Sen Chen
Publisher: CRC Press
ISBN: 0429780516
Category : Mathematics
Languages : en
Pages : 611
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Book Description
Game theory involves multi-person decision making and differential dynamic game theory has been widely applied to n-person decision making problems, which are stimulated by a vast number of applications. This book addresses the gap to discuss general stochastic n-person noncooperative and cooperative game theory with wide applications to control systems, signal processing systems, communication systems, managements, financial systems, and biological systems. H∞ game strategy, n-person cooperative and noncooperative game strategy are discussed for linear and nonlinear stochastic systems along with some computational algorithms developed to efficiently solve these game strategies.
Author: Jeroen C. J. M. Van den Bergh
Publisher: Edward Elgar Publishing
ISBN: 1843768585
Category : Business & Economics
Languages : en
Pages : 1326
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Book Description
This major reference book comprises specially commissioned surveys in environmental and resource economics written by an international team of experts. Authoritative yet accessible, each entry provides a state-of-the-art summary of key areas that will be invaluable to researchers, practitioners and advanced students.
Author: Frank W. van Tongeren
Publisher: Springer Science & Business Media
ISBN: 3642520685
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
My interest in microsimulation started to develop when I was exposed to the works of Guy Orcutt and his associates on microsimulation of households in the USA, and those of Gunnar Eliasson and his associates on simulatio~ of Swedish firms. Their approaches promised the exciting possibility to represent an by simulating the behaviour of individual microeconomic entire economic system units on a computer. The construction of a large scale microsimulation model seemed to be a worthwhile adventure which could yield much more detailed results than existing models. It was also evident that microsimulation of firms is a relatively underdeveloped area, in spite of the large number of operational microsimulation models of households in the USA and Europe. Developing the computer implementation has been an integral part of the research. Translating initially vague ideas into mathematical formulae and subsequently into a structured computer language provides a testing ground for 10Bical consistency of ideas. When writing this book I have purposefully abstained from describing the computer program and dedicated solution algorithms. The reason is that the book is primarily directed towards readers interested in economics and therefore uses the language of economics and not that of computer science. The simulation model has been programmed for the personal computer in Turbo Pascal. Sophisticated memory management techniques have lifted constraints on the number of firms which can be simulated on the PC.
Author: Arvid Aulin
Publisher: Springer Science & Business Media
ISBN: 3642957382
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
A critical examination of The prevailing orthodoxy according to which all macroeconomic theory should be reducible to microeconomics. The book provides a mathematical extension of the Lucas theory to allow for the effects of creation of knowledge upon economic development so as to improve the prediction of business cycle data.
Author: Joachim R. Daduna
Publisher: Springer Science & Business Media
ISBN: 3642577628
Category : Mathematics
Languages : en
Pages : 391
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Book Description
This proceedings volume consists of papers presented at the Sixth International Workshop on Computer-Aided Scheduling of Public Transpon, which was held at the Fund~lio Calouste Gulbenkian in Lisbon from July 6th to 9th, 1993. In the tradition of alternating Workshops between North America and Europe - Chicago (1975), Leeds (1980), Montreal (1983), Hamburg (1987) and again Montreal (1990), the European city of Lisbon was selected as the venue for the Workshop in 1993. As in earlier Workshops, the central theme dealt with vehicle and duty scheduling problems and the employment of operations-research-based software systems for operational planning in public transport. However, as was initiated in Hamburg in 1987, the scope of this Workshop was broadened to include topics in related fields. This fundamental alteration was an inevitable consequence of the growing demand over the last decade for solutions to the complete planning process in public transport through integrated systems. Therefore, the program of this workshop included sections which dealt with scheduling problems and computerized systems for operational planning as well as sections on network planning and data management.
